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Property preservation insurance

Get protected from $25 a month

Quote online and buy in minutes

Get my quote

Quick & easy

Flexible payments

Friendly advisors

Property preservation insurance

Get protected from $25 a month

Get my quote

Quick & easy

Flexible payments

Friendly advisors

Talk to a Hiscox agent in Spanish, from Mon-Fri 9 am - 10 pm ET. Call 1-833-816-2814

en Español

Hable con un agente de Hiscox en español, de lunes a viernes, de 9:00 a 22:00 ET. Llame al 1-833-816-2814

in English

Choose your cover, protect your business
General liabilityinsurance
From $25a month
Protection against accidental damage to someone else’s property, injury to a third party and related costs, legal defense costs even if the lawsuit is groundless and more...
Add on business personal property (BPP) insurance to protect your tools and equipment on-site.

Quote online and buy in minutes

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Coverage to preserve and protect you

Clearing out and cleaning up the neglected, abandoned and foreclosed can mean anything from window-boarding to winterization. You’re not just a Jack – or Jacqueline – of all trades, you’re a skilled multi-tasker.

On top of that, the PP industry’s a minefield of rules and regulations. You have to know what you’re allowed to do, what you’re not, and all the possible pitfalls in between.

So, as well as having the right skills, equipment and licenses, you need the right business insurance.

Sure, you’re careful. But accidents happen, mistakes get made. And when things go wrong, you need to know your business is protected and your reputation preserved.

  • Why do property preservation contractors need professional liability (E&O) insurance?

    Check your state’s requirements. Some states require P&P contractors to have both general and errors and omissions insurance (E&O). There’s a difference.

    General liability insurance protects you from claims someone got injured, or their property damaged, and you were to blame. It doesn’t cover you for claims you made a mistake, or your work was faulty. That’s what E&O insurance is for.

    Say you clear out the neighbor’s shed by mistake? Or, re-key the wrong property? Or trash a dirty old carpet, ripped and full of holes, only to find out it was an antique, meant for restoration?

    You could be sued. In fact, you can be sued even if you did nothing wrong. And without the right insurance, that’s going to cost you. A lot.

    Even if there’s no grounds for a claim, E&O insurance hires you an attorney, takes care of your legal fees and pays compensation too. And as coverage can be retroactive, it means claims made over work you’ve done in the past won’t be a worry either.

  • Why do property preservation contractors need general liability insurance?

    Banks and realtors usually require you to have general liability insurance before they’ll hire you. But you need it anyway. Because maintaining and repairing clients’ properties puts you at high risk of bodily injury and property damage claims.

    What if you’re grass cutting and your mower throws a rock, putting a huge hole in the siding? Or you spill a bucket of paint on an expensive, wool carpet? Or someone slips on the hardwood floor you just polished and needs hospital treatment?

    You could end up facing a claim. Medical bills, repairs, lawyers, court fees… the costs can go through the roof. And a lawsuit won’t just put a dent in your bank balance, it can harm your reputation, too.

    General liability insurance protects your business from the cost of claims. If a claim’s made against you - even if it’s groundless – your coverage can take care of your legal costs and compensation, if yu’re liable.

  • How much does property preservation insurance cost?

    Our general liability policies start at $42 a month. Professional liability (E&O) insurance will cost you from $71 a month. But you don’t have to pay monthly. We have quarterly and annual options, so you can choose payments that work for you.

    The price you’ll pay for your insurance varies from business to business. It’s affected by things like:

    • the size of your business
    • its location
    • the limits you choose.

    If you choose a bigger deductible (the amount you’ll contribute towards the cost if there’s a claim) your premium will cost less. Just be sure you could actually afford to pay that amount if you have to.

    As for how much cover you need. It’s always best to over-estimate. Imagine the worst that could happen, then pick a figure you can realistically afford.

    Each property preservation company is different, we get that. And that means your insurance needs are, too. We can build a package to suit your business. In minutes.

What other kinds of insurance do property preservation professionals need?

Business personal property insurance (BPP)

If you take equipment like laptops and mobiles to meetings, this policy is worth having. It also covers the portable stuff in your office - from your furniture to your potted plants.

More info

Business owner's policy (BOP)

Comes with general liability, property, and business equipment insurance as standard. Plus, a range of optional add-ons, including coverage for:

  • Equipment breakdown
  • Money transfer fraud
  • Electronic data loss.
More info

Cyber liability insurance

If you use email, own a website, or store client data, cyber insurance is a must. It can’t stop a cyber-attack, but it can pay your recovery costs so your business survives from one.

More info

Workers' compensation insurance

Most states require you to have this policy even if you only have one employee. It’s good to have anyway. It protects your business from the cost of workplace illness and injury claims which can be crippling.

More info

Because we understand every business is different, we'll build an insurance package to suit your needs. In minutes.

To build the right insurance package for you call one of our licensed advisors today on 978.344.4215.

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Prefer to talk?

For help, support or just a quick question, feel free to call me.

I'm Deniel - I'm here to help you Monday to Friday, 9 to 5.30 (EST).

My direct line is 978 344 4229.

Deniel

Deniel Fleming
Account Executive

phone icon 978 344 4229

Get protected from $25 a month

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